First question is what kinda engine dose your car have???(depending the engine is the kinda mod u need.) so you wanna make cheap power just so you can pull on your buddy.? well man fisrt off i dont wanna knock on ya or shoot down your postbut it takes money to make cars fast but.............theres always cheap shit you can get away with .
Here it is cheap power no money down!

this is crazy
#1 basic wrenchin , Do a tune up right before you run him. change your oil (synthetic 10w 40) do the spark plug thing ect.....also check you timing with a timing light and get it in the sweetspot. Tire pressure ect..................get the motor in top condition pretty much.
#2 intake wise either make an extreamly ghetto cold air type set up or just run no intake.
#3 gut the cat and if u wanna get cheap run no exaust can.
#4 Get the highest octane gas you can possibly get 100 and up
#5 advance timing 5 degrees. if you car idels at 10 degrees up it to 15.
#6 (dangerous shit) disconnect you knock sensor so there will be no ecu interference in your happy mission
#7 Find if you have a rev or speed limiter and cut the sensor or ecu pin so you will no be bothered by a govenor,
#9 Final but most important thing (90% of drag racing is all driver) learn how to launch out of the whole ect...........the way you shift and how you stay in the powerband is very important. try to stretch the gear unitil you feel there is no more power being made then with no mercy slam that next gear in. A big thing also is your launch . If you can rip on him at take off hell will have to have alot of power to pull on you. So rev it to like 4500 and up and slap that clutch up . If you feel you have no traction at that point let off alittle and try to find traction(must have good tires) .
I know that most 4ag and automotive veterans are looking at this post and dissmissing it or just questioning the techniques, but when i started out i couldnteven change oil with out asking sombody what to do next. But nobody is born knowing so theres nothing wrong with being humble with info..................
Good luck man and when ever your ready to buy upgrade mods just do your reasearch and apply it right. (ps . demolish that honda!!!)good luck